Bangladesh to sign trade pact with Czech Republic

April 15, 2019 - Bangladesh

Bangladesh will soon sign a trade agreement with the Czech Republic, primarily to enjoy duty benefits on goods exports to the Commonwealth of Independent States (CIS) nations. The pact will make Bangladesh join a customs union of all CIS nations and pay lesser duties in some major countries, especially on garment shipments, said commerce minister Tipu Munshi.

The Czech Republic, then, can be used as a hub for exporting goods to other countries under the customs union, according to Bangla media reports.

Bangladesh is working to diversify both its export basket and destinations to promote sustainable business after the graduation from the league of least developed ones to a developing country by 2024, the final implementation of which would come by 2027. (DS)